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ISLANDER IS PUBLISHED BY 10 MInden Street St Helier Jersey JE2 4SU
FACTORY
V i c t o r i a M a r k l a n d
01534 722 227 victoria.markland@savills.com
G e r i O ' B r i e n
01534 722 227 gobrien@savills.com
C h a r m i n g
s e a s i d e h o m e
L a G r a n d e R o u t e D e L a C o t e
S t . C l e m e n t J E 2 6 F W
N e s t l e d j u s t s t e p s f r o m t h e s e r e n e s h o r e l i n e
a t P o n t a c , t h i s d e l i g h t f u l s e a s i d e c o t t a g e
o f f e r s t h e p e r f e c t b l e n d o f c o a s t a l l i v i n g a n d
m o d e r n c o n v e n i e n c e T h r e e d o u b l e
b e d r o o m s , t w o b a t h r o o m s , l i v i n g r o o m ,
k i t c h e n w i t h f u l l y i n t e g r a t e d a p p l i a n c e s ,
d i n i n g r o o m , s t u d y a n d u t i l i t y r o o m w i t h
a m p l e s t o r a g e E x t e r n a l l y i s a l o v e l y p a t i o
g a r d e n , s w i m m i n g p o o l , l a r g e s h e d a n d
p a r k i n g f o r t w o c a r s
Asking Price £795,000
Q u a l i f i e d
E l e g a n t l u x u r y a p a r t m e n t
L e M o n t G r a s D ' E a u
S t . B r e l a d e J E 3 8 E D
L o c a t e d o n t h e s e c o n d f l o o r o f t h e e x c l u s i v e
C h a t e a u D e s R o c h e s d e v e l o p m e n t , t h i s i s a
r a r e o p p o r t u n i t y t o o w n a n i m p r e s s i v e
a p a r t m e n t w h i c h e n j o y s s p e c t a c u l a r v i e w s
a c r o s s S t B r e l a d e ’ s B a y a n d B e a u p o r t P o i n t
T h r e e d o u b l e b e d r o o m s ( o n e e n s u i t e ) , o n e
h o u s e b a t h r o o m , o p e n p l a n l i v i n g / d i n i n g
a r e a , k i t c h e n , u t i l i t y a n d c l o a k r o o m
E x t e r n a l l y i s a s m a l l p r i v a t e w e s t - f a c i n g
b a l c o n y , b e a u t i f u l c o m m u n a l g a r d e n a n d
d o u b l e g a r a g e w i t h a m p l e s t o r a g e
Asking Price £1.2m
Q u a l i f i e d
D e b b i e L e B r u n
01534 722 227 debbie.lebrun@savills.com
H a r r y P h i l p o t t
01534 722 227 harry.philpott@savills.com
o a s t a l g a r d e n
a r t m e n t
e V o i s i n e l a d e J E 3 8 P S
d i n t h e h i g h l y s o u g h t a f t e r a n d
e g a t e d d e v e l o p m e n t o f P o r t e l e t
s g a r d e n a p a r t m e n t r e a l l y b o a s t s a l l
e f i t s o f l u x u r y s e a s i d e l i v i n g T h r e e
m s ( t w o e n s u i t e ) , h o u s e b a t h r o o m , a n l i v i n g , d i n i n g a n d k i t c h e n a r e a s
h - e n d M i e l e a p p l i a n c e s , a n d a
e l a u n d r y r o o m E x t e r n a l l y i s c o v e r e d
p a r k i n g , c o m m u n a l g a r d e n s , t e n n i s
n d d i r e c t a c c e s s t o t h e b e a c h
Price £1.575m
M o d e r n f a m i l y o m e
R u e D u C o i n C l e m e n t J E 2 6 Q R
e x c e p t i o n a l d e t a c h e d h o m e i s n e s t l e d i n i c t u r e s q u e r u r a l s e t t i n g o f S t C l e m e n t , n g a p e r f e c t f u s i o n o f c o n t e m p o r a r y y a n d t r a n q u i l c o u n t r y s i d e l i v i n g S i x o o m s ( t h r e e e n s u i t e ) , t w o f u r t h e r
o o m s , o p e n p l a n l i v i n g , d i n i n g a n d
e n w i t h e a t - i n b r e a k f a s t b a r ,
o o m / s t u d y a n d a f u r t h e r r e c e p t i o n , b o t h o p e n i n g o n t o t h e b e a u t i f u l l y
e d p a t i o E x t e r n a l l y i s a g a t e d d r i v e w a y
a m p l e p a r k i n g , d o u b l e g a r a g e a n d e i g h t
e s o f l a n d s u r r o u n d i n g t h e p r o p e r t y d
ng Price £2.775m
f i e d
Greenfields Cottage, St. John £1,195,000
Situated in the heart of the countryside, on a pretty Green Lane, Greenfields Cottage offers total peace and tranquillity. The property, which was constructed approximately 30 years ago and would benefit from light refurbishment offers spacious reception space on the ground floor, and two good size bedroom suites upstairs. The house is approached from
Slomans - 01534 879787
the road by a private driveway, and there is ample parking. To the exterior there are lawned gardens to both the front and rear of the property.
La Grande Route De St. Martin, St. Martin £1,295,000
Built in 1936, the property has been well maintained by its owners. The ground floor includes a modern kitchen with integrated Bosch appliances and large work spaces for preparation and a small dining area. The kitchen leads to large dining area which is located in a conservatory which flows through to a lounge with an open fire place. The ground floor also has a snug with fire place for the dual fuel central heating system, plus an office, utility room and
Reside 07797 737773
garage. Upstairs there are three double bedrooms, two of which benefit from an en-suite and there is also a house shower room. The master bedroom is an en-suite with walk in dressing room and a south facing balcony. Externally to the rear of the property is a generous south facing garden that benefits the sun throughout the day. The property is situated near the village, close to the church, school, pub, village green and M&S store, is on a main bus route and has parking for 4 cars.
Places.je #53518
Places.je # 53905
Avenue du Petit Mont, St. Helier £1,275,000
This elegant detached family home is situated in an elevated position enjoying high levels of natural light and far reaching views over St Helier harbour and Greve d’Azette to the coast. The superb open-plan kitchen/ dining area has sliding doors to the living area making for a flexible space for entertaining. Glazed doors open to the garden and a large south facing
Hunt Estates - 01534 860650
paved terrace perfect for al fresco dining. On the first floor there are three double bedrooms and two bathrooms. With a separate utility/boot room, integral store, parking for five cars and family or pet friendly lawned gardens, this property offers everything a busy family could wish for. Just a 10 minute walk to town or to the beach at Havre des Pas.
Grande Route Des Sablons, Grouville £1,495,000
A particularly fine newly constructed luxury two bedroom, two bathroom, plus study 1,237 sq.ft. ground floor apartment. Features include a private sun deck, double garage space and communal gym. Set within the excellent high quality
`The Waves` development, with lovely sea views and private (from the development) access to the beach. Seaside living at its best. The Waves also offers charge points for electric cars, and a communal bike store whilst providing spectacular
Wilsons Knight Frank - 01534 877977
panoramic sea views, surrounded by natural beauty in a great location. Finished throughout to the highest specification with fitted kitchens and full appliances. Featuring: visitor parking, private air-conditioned gym, fully equipped with shower facilities; aluminium double glazed windows; under floor heating system; luxury fitted kitchens with full appliances and utility rooms; bathroom/ shower rooms - fully tiled and Duravit sanitary ware/ furniture; satellite, smart network and data network, these properties have it all.
Places.je #53066
Places.je # 36363
JIM CARTER
TRINITY MANOR FARM
Trinity Manor Farm is one of Jersey’s most prestigious dairy farms, with a long and successful history as an on-going farm dating back to the 16th Century. The family-owned farm comprises 170 acres of private estate in the heart of the parish of Trinity, Jersey. It’s home to over 600 award-winning, pedigree Jersey cows producing over 2.80 million litres of milk annually.
Jim Carter, the farm manager, was born and raised on a Jersey Dairy Farm on the outskirts of Port-Elizabeth in South Africa. After attending Winterberg Agricultural College, he came to Jersey on a youth exchange scheme with the World Jersey Cattle Bureau, to experience firsthand farming in the land of the iconic Jersey cow. He met a local girl, they moved back to South Africa, got married and they started their own dairy farming venture.
In 2020, Jim and his wife, Lisa, decided to return to the island. Jim took up the position of Farm Manager at Trinity Manor Farm and has enjoyed working there ever since.
How has farming in Jersey changed over the years, and what challenges have you faced?
It is the same story all over the world – get bigger or get out. Jersey has less farmers, but larger herds. Because of the squeeze on the economy efficiency is key and profit margins are greatly reduced. The island is a financial hub, therefore, it is difficult to attract young people into the industry – passion and commitment is essential for a 365 day job!
What breeds of cattle do you have at Trinity Manor Farm, and what makes them special?
Jersey Dairy Cattle, and Angus cross Jersey for Beef. Jersey Dairy cattle, for their docile temperament, and are the most economic dairy breed, not to mention their high quality milk and cream content.
Can you walk us through a typical day on the farm?
I am greeted by a beautiful morning sunrise as I start my day. In the summer, the ladies enjoy their time all fresco, dining on lush green pastures. In winter, they enjoy an all you can eat buffet in an atmospheric barn environment. For entertainment, there is a pamper zone where the ladies can enjoy rotating cow brushes. In the evening there are two beautiful chandeliers producing different hues of lighting for amusement and relaxation.
When the ladies are milked and settled, we attend to the needs of their offspring, providing them with milk, calf rearing cudlets, and loving care and attention.
What sustainable farming practices do you follow?
Trinity Manor Farm is proud to say that we are members of the LEAF Marque Scheme, and Red Tractor. As such we have an Integrated farm management policy following farming best practices guidelines. We are proud to be leading the way in Jersey’s dairy farming community. A multi-million pound investment in the farm’s infrastructure and facilities aimed at enhancing the herd’s welfare and environment was completed in September 2019, with further investment continuing annually.
What are the unique challenges and advantages of farming on an island like Jersey
The most significant challenge is living on an island. Inputs are high because fertilizer, food, medicines etc. are imported.
An advantage of farming in Jersey is that it is TB free. The island adopts a closed island policy preventing cattle importation. This policy prevents the island from experiencing diseases that ravage the UK and Europe.
How important is local farming to Jersey’s food supply and culture?
Extremely important. Jersey Royals and Jersey Dairy products are known throughout the western world and dare I say it, the whole world! Jersey has a vibrant culture, as usual food is culturally significant: Black Butter, Jersey Bean Crock, Jersey dairy products, and cider making are all part of the Jersey way of life.
Do you feel there’s enough support for farmers in Jersey, and what would you like to see improve?
We are very fortunate that the States of Jersey support Jersey Farmers and understand the difficulties of farming in the island. There is always room for improvement.
How do you see the future of farming in Jersey?
It is hard to envision a future in current world conditions. However, everyone realises that food security is essential for human survival! How important is it to you to connect with the local community, and how can people support Jersey farmers. We do connect with the local community, we offer school tours, work placement with Trident students, practical experience for veterinary students, and support local agricultural shows. . Support us by buying local produce, as we are also experiencing a cost of living crisis! Support us more.
Our Genuine Articles are drawn from the ranks of Genuine Jersey, the organisation that supports local producers who create products on the island. Learn more about the organisation and how you could become a member and get featured here in future at www.genuinejersey.com
S G Hambros House
17 1/2 Esplanade, St Helier St Helier. £9,000,000 ref 1543/478
La Loueme (formerly Providence)
21/02
21/02
La Rue Des Sapins, St Peter, JE3 7AD St Peter. £1,125,000 ref 1543/493 UPRN 69118942
21/02
La Trouvaille
La Rue De La Blanche Pierre, St Lawrence, JE3 1EA St Lawrence. £970,000 ref 1543/435 UPRN 69116216
21/02
La Hougue Bungalow
La Route Du Petit Port, St Brelade, JE3 8HH St Brelade. £775,000 ref 1543/618 UPRN 69115004
21/02
7 Landfield Drive
Le Mont Millais, St Helier, JE2 4RB St Helier. £662,000 ref 1543/611 UPRN 69121931
Apartment Number 18 Fort D‘Auvergne
Fort D’Auvergne, St Helier, JE2 4AB St Helier. £499,995 ref 1543/607 UPRN 69395641
The Cottage
19 Gloucester Street, St Helier, JE2 3QR St Helier. £290,000 ref 1543/371 UPRN ‚Äî
21/02
Coastline, 1 La Petite Fontaine
The latest transactions through the Royal Court
21/02
La Grande Route De La Cote, St Clement, JE2 6FQ St Clement. £1,350,000 ref 1543/497 UPRN 69143001
21/02
Villa des Mielles
La Petite Route Des Mielles, St Brelade, JE3 8FA St Brelade. £985,000 ref 1543/443 UPRN 69112100
21/02
Qu‘Appelle 1 Greenfield Close, St Ouen, JE3 2BF St Ouen. £900,000 ref 1543/456 UPRN 69120347
21/02
Le Petit Jardin
La Grande Route de St Martin, St Saviour, JE2 7JP St Saviour. £750,000 ref 1543/487 UPRN 69128524
4 St Joseph‘s Villas
La Grande Route De St. Clement, St Clement, JE2 6QN St Clement. £565,000 ref 1543/591 UPRN 69110335 21/02
12 Beach Crescent
St Clement, JE2 6FA St Clement. £499,000 ref 1543/411 UPRN 69101224
Apartment 3
19 Gloucester Street, St Helier, JE2 3QR St Helier. £290,000 ref 1543/383 UPRN ‚Äî 21/02
La Petit Jardin
21/02
Le Boulivot de Bas, Grouville, JE3 9UH Grouville. £1,150,000 ref 1543/419 UPRN 69122379
21/02
6 Fremont Perle
La Route Du Mont Mado, St John, JE3 4DN St John. £975,000 ref 1543/625 UPRN 69400728
21/02
Sunnyfield House
La Grande Route De St. Pierre, St Peter, JE3 7AY St Peter. £790,000 ref 1543/427 UPRN 69142202
Number 6 Aubin Place
Aubin Lane, St Saviour, JE2 7PP St Saviour. £705,000 ref 1543/474 UPRN 69143147
Villa Hengra
Sunshine Avenue, St Saviour, JE2 7TS St Saviour. £500,000 ref 1543/451 UPRN 69135496
9 Marett Court
Marett Road, St Helier, JE2 4PP St Helier. £360,000 ref 1543/515 UPRN 69129379
Apartment 1, Rocco One
La Route de la Pulente, St Brelade, JE3 8HG St Brelade. £250,000 ref 1543/470 UPRN 69394406
21/02
12 La Place Nicolle
La Rue des Pres, St Saviour, JE2 7RB St Saviour. £0 ref 1543/464 UPRN 69131516
14/02
Les Fontaines
La Rue des Fontaines, St Martin, JE3 6EF St Martin. £1,385,000 ref 1543/161 UPRN 69118417
Villa Des Arbres
1 Le Clos De La Bataille, Grouville, JE3 9DU Grouville. £960,000 ref 1543/306 UPRN 69122998
Notre Maison
14/02
14/02
La Rue es Viberts, St Mary, JE3 3DQ St Mary. £850,000 ref 1543/295 UPRN 69120566
Apartment 1, High Marsh
Apartment 1, High Marsh, La Route de Vinchelez, St Ouen, JE3 2DA St Ouen. £735,000 ref 1543/80 UPRN 69385242 14/02
13 Le Clos Paumelle (previously ‘Rowjen’)
14/02
St Saviour, JE2 7TW St Saviour. £635,000 ref 1543/238 UPRN 69124251
14/02
Tynedale
41 Les Cloches, St Clement, JE2 6BG St Clement. £585,000 ref 1543/215 UPRN 69406473
14/02
Ville Au Neveu
La Rue de la Ville au Neveu, St Ouen, JE3 2DU St Ouen. £500,000 ref 1543/126 UPRN 69119441
14/02
Apartment 4, High Marsh
La Route De Vinchelez, St Ouen, JE3 2DA St Ouen. £390,000 ref 1543/286 UPRN 69302595
4 Clos de la Ferme Rose, St Brelade, JE3 8DE St Brelade. £4,250,000 ref 1543/100 UPRN 69387086
Rougemont
14/02
La Route de la Haule, St Peter, JE3 7BA St Peter. £1,025,000 ref 1543/190 UPRN 69112856
14/02
Chez Nous
La Grande Rue, St Mary, JE3 3BD St Mary. £900,000 ref 1543/279 UPRN 69111595, 69393963, 69393964
2 Hungerford Villas Vauxhall Street, St Helier, JE2 4TJ St Helier. £800,000 ref 1543/243 UPRN 69136627
9 Poplar Close
14/02
14/02
La Grande Route De St. Martin, St Saviour, JE2 7JP St Saviour. £725,000 ref 1543/311 UPRN 69131909
12 Marina Avenue
12 Marina Avenue, La Grande Route de St Clement, St Clement, JE2 6NX St Clement. £610,000 ref 1543/69 UPRN 69129428
48 Clubley Estate
St John’s Road, St Helier, JE2 3LF St Helier. £570,000 ref 1543/181 UPRN 69103744
3 Jean Pierre Apartments
Belle Vue, St Brelade, JE3 8NA St Brelade. £500,000 ref 1543/186 UPRN ‚Äî
Share 2, High Marsh
14/02
La Route de Vinchelez, St Ouen, JE3 2DA St Ouen. £375,000 ref 1543/96 UPRN 69302588
14/02
Meadowbank Cottage
Les Charrieres, St Peter, JE3 7ZQ St Peter. £175,000 ref 1543/153 UPRN 69127375
SUPANA (formerly known as Glenroyd)
La Grande Route des Sablons, Grouville Grouville. £4,250,000 ref 1543/84 UPRN 691111367
39 Roseville Street
St Helier St Helier. £990,000 ref 1543/261 UPRN 69132780
Donada
2 La Route Orange, St Brelade, JE3 8GP St Brelade. £885,000 ref 1543/204 UPRN 69115193
15 Havre Des Pas
St Helier, JE2 4HP St Helier. £750,000 ref 1543/111 UPRN 69384346
43 Don Farm
La Route Des Quennevais, St Brelade, JE3 8GA St Brelade. £680,000 ref 1543/198 UPRN 69104706
Share 3, High Marsh
La Route De Vinchelez, St Ouen, JE3 2DA St Ouen. £605,000 ref 1543/234 UPRN 69302591
Apartment B15, Challenger House
Challenger House, St Helier, JE2 3SS St Helier. £565,000 ref 1543/247 UPRN 69394900
Apartment 8, Park Place
Park Place, St Helier, JE2 4LU St Helier. £420,000 ref 1543/291 UPRN 69394535
Apartment 9, Les Pierres de Lecq
Le Mont de St Marie, St Mary, JE3 3AA St Mary. £325,000 ref 1543/177 UPRN 69125843
Happy Hunting
If you’re hunting for a house that combines classic Jersey charm with decadence and luxury, look no further than La Chasse (The Hunt). Perfectly positioned in the St Saviour countryside, this five-bedroom family home has undergone a transformation on the inside and out
Twenty years of experience in the commercial and high-end residential property sector were channeled into the vision for the home, which has become a stunning turnkey property, striking the perfect balance between functionality and flair.
The former farmhouse is located just a few hundred meters from one of Jersey’s top preparatory schools. Despite its idyllic countryside atmosphere, offering privacy, it is only a five-minute drive away from a wide variety of local amenities. An agent would attest that La Chasse represents a rare opportunity to purchase a refurbished farmhouse brimming with character in such a desirable location.
The gated entrance to the property opens onto a stone driveway with a turning circle, comfortably fitting up to four cars. Should you desire additional sheltered space for your automobiles, there is a suitable garage at the rear of the house. The property itself extends to approximately 4,689 square feet, further complemented by a stunning standalone annex containing a gym, shower room, toilet, kitchenette, and expansive entertaining space. This area could easily be repurposed to accommodate a guest bedroom detached from the main houseperfect for intergenerational living or as an Airbnb setup.
The gardens are low maintenance and give a zen-like feeling,
The house has been renovated throughout using the signature DiCasa colour palette, with the team sparing no expense on the project. Their lavish and contemporary aesthetic is evident across the interior, from the quaint hallway and cloakroom on the ground floor to the brand-new home office, magnificent orangery, and drawing room. The latter features an impressive original stone fireplace, while the conservatory serves as an elegant formal dining room with French doors leading out to the rear terrace. The limestone flooring across this section of the house gives it a distinguished feel, complemented by the grand dining table and rustic armoire. The furnishings and layout have been meticulously chosen to maximise the room’s height and light, with floor-to-ceiling windows and doors. Adjoining the orangery is a kitchen/breakfast room, ideally suited for modern living, with an attractive, well-appointed kitchen area featuring a Lacanche French range. Its signature porcelain enamel shade provides a distinguishing feature, showcasing delicate craftsmanship.
Fancy your dinner parties with a sky view?
Moving up to the first floor, there are five generous double bedrooms, including a master suite with an en-suite bathroom featuring a freestanding bath and separate shower.
Moving up to the first floor, there are five generous double bedrooms, including a master suite with an en-suite bathroom featuring a free-standing bath and separate shower. Three of the other bedrooms are similarly serviced by en-suite bathrooms, while the final bedroom has access to a communal family bathroom. DiCasa has ensured that all of these bathrooms are brand new, boasting designer decor and luxury sanitary ware, exclusively using only the finest materials.
No effort has been spared in ensuring that the interiors of each room flow seamlessly into the next. Each bedroom in La Chasse complements the others, with silk carpets throughout the first floor providing a luxurious finish to the neutral colour palette. The master bedroom and other rear bedrooms feature Juliet balconies, allowing the wonderful morning sun to stream onto your bed. For warmer weather, La Chasse boasts a wonderful heated outdoor pool, with an electric cover and terrace, overlooking expansive views across the fields and gardens, which extend to about 7 acres. Complementing this environment is the large pool house, complete with a kitchenette, changing facilities, and ample space for entertaining.
This luxurious turnkey property comes complete with underfloor heating and bespoke furnishings - you could move in with nothing more than a suitcase. If south-facing gardens and luminous interiors sound like your kind of home, reach out to Jon at Gaudin & Co to arrange a viewing.
La Chasse, St. Saviour £7,500,000 Freehold
5 BEDROOMS 4 BATHROOMS
Arrange a viewing Gaudin&Co on 01534 730341
4680 SQUARE FEET
PARTNER
BRADLEY VOWDEN 07797 763372
bradleyv@gaudin.je
Residential Sales
Our success comes from a strong, thriving team focused on exceptional service, driven by commitment - not commission. 1.
PARTNER
NICK JEWELL 07797 725051
nickj@gaudin.je
Residential Lettings
Trusted in residential sales, lettings, and management since 1934, offering tailored services and accredited reliability in Jersey. 2.
Property Management
Expert island-wide block & residential management covering compliance & maintenance to ensure peace of mind for both landlord and tenant.
Commercial
Experienced commercial property management covering parking to large blocks. 24/7 emergency support & realtime reporting for stress free assurance.
Rates correct at 30/03/25
MORTGAGE market update
Words: Peter Seymour, The Mortgage Shop
Buying or selling property in Jersey has not been a happy experience for many post Covid, although the past six months have shown that many of the factors that have worked against us, primarily high interest rates and inflated house prices are falling towards more realistic levels.
THE FUTURE OF BASE RATE
The latest results of the Jersey House Price Index, announced on 13 February, coincided in the same month, with the decision by the Bank of England to reduce Base Rate. This is great news for the stalled housing market, and has been welcomed by purchasers, estate agents, lawyers and lenders.
Less so vendors, although for those who purchased over five years ago, they will have seen a significant short-term hike in the value of their properties that has now fallen back, albeit to a level which will still be greater than the price they originally paid.
The owners who are the hardest hit are those who bought in the past three to four years, paying top price and using a 90% mortgage, which now means that the majority are in negative equity unless they have been substantially overpaying on their mortgage.
The only advice here is to remain in the property and wait for values to increase again in a few years’ time, whilst steadily reducing the outstanding balance on the mortgage.
March 25 February 25 January 24
2-year Tracker rate 60% LTV 5.2% 5.35% 6.09%
2-year Tracker rate 90% LTV 5.4% 5.79% 6.39%
2-year Fixed rate 60% LTV 5.04% 5.04% 5.79%
5-year Fixed rate 60% LTV 5.29% 5.54% 6.22%
5-year Fixed rate 60% LTV 4.74% 4.54% 5.39%
5-year Fixed rate 90% LTV 5.04% 5.09% 5.81%
MORTGAGE INTEREST RATES
We started the year with some very positive comments from the Bank of England that four Base Rate cuts were on the cards, and indeed we saw the first reduction of 0.25% happen on the 7 of February.
It was at that stage that things started to look less promising as influences both inside the UK and also further afield began to have an impact.
The effect of the Labour Government’s Autumn Budget and the question over whether or not it could be fully implemented raised a lot of discussion in official circles.
It became clear that inflation, the main culprit behind the sudden hikes in base rate during the past four years, having fallen back to the 2% maximum guideline was starting to edge up again.
The Bank has cut base rate three times since last August to 4.5%, although it has now said that it would adopt a ‘’gradual and careful’’ approach to further monetary easing which has led markets to bet on only two more quarter point rate cuts this year – possibly in March & July.
Unfortunately, this now falls into total insignificance following the disastrous meeting between Zelensky and Trump at the White House on 28 February.
There is no point in taking sides as the damage is now done, although the initial implications are that Europe to include Great Britain is going to have to stand on its own two feet for the first time in years, to protect both freedom and the economy and this won’t come cheaply especially in respect of the impact on inflation.
JERSEY HOUSE PRICE INDEX - Quarter 4 of 2024
The latest figures were released by Jersey Statistics on 13 February and bore a much closer resemblance to the reality of the local market than we have seen for nearly three years.
The reason for this is that the statisticians had so few transactions to analyse that their ‘’snapshot’’ of the market was distorted.
As sales have started to pick up, so the figures released for the last two quarters of 2024 give a much clearer picture of what is happening and will hopefully now convince vendors that they must reduce asking prices for their properties if they want to sell.
The market has probably fallen by 20% or more to date, although it must go lower to enable purchasers to qualify for a mortgage based on Jersey providers’ current lending criteria.
This criteria is driven by affordability which will translate into larger mortgages becoming available if interest rates were to fall.
So, in summary, the House Price index was 8% lower than 2023, which was the largest annual decrease in price since 1986 which was a long time ago! 2024 saw the lowest annual turnover since 2002.
Average prices paid for flats and houses in 2024 were:
1 – bedroom flats £326,000
2 – bedroom flats
£520,000
3 – bedroom house £765,000
4- bedroom house £1,090,000
Despite the reduction in Base Rate, the local lending market has not moved much with a snapshot of rates in the various categories showing the situation over the past 15 months.
